Ethereum

Cryptocurrency

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-plunges-as-market-tension-tests-key-support-thresholds" rel="noopener noreferrer nofollow">Ethereum Plunges as Market Tension Tests Key Support Thresholds</a><br></p>
<p style="text-align: justify">Cryptocurrency markets are witnessing a tumultuous phase, profoundly impacting <a href="https://en.bitcoinhaber.net/ethereums-ascent-analyst-predicts-surge-to-2500-amid-crypto-volatility" rel="noopener noreferrer nofollow">Ethereum</a>‘s value. The digital currency has slipped under the $3,500 mark, signaling a potential continuation of its recent descent. Market observers alert to the possibility of Ethereum reaching down to the $3,200 range, where a fierce tug-of-war is anticipated between sellers and buyers.</p>
<h2 id="ethereum-faces-downward-pressure">Ethereum Faces Downward Pressure</h2>
<p style="text-align: justify">Ethereum has embarked on a downward trajectory, breaching the $3,550 support zone. Its current trade value below $3,550 and its position beneath the 100-hour Simple Moving Average suggest a further solidification of the bearish trend. The prominent trend line on the hourly charts points to a persistent decline if Ethereum does not overcome the $3,520 resistance level.</p>
<p style="text-align: justify">Mirroring <a href="https://en.bitcoinhaber.net/bitcoins-6-plunge-raises-concerns-amid-etf-launch" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent price adjustments, Ethereum has also undergone a correction, dipping below the $3,720 and $3,650 benchmarks. Its current trade position hovers below the $3,420 mark. Analysts speculate on a potential rebound to the $3,650 level, but emphasize the necessity of breaching the $4,000 barrier to secure more substantial gains.</p>
<h2 id="decisive-levels-for-ethereum-s-path">Decisive Levels for Ethereum’s Path</h2>
<p style="text-align: justify">Ethereum’s immediate support lies around $3,300, with a pivotal support point at $3,270. A breakdown below this could lead to support at $3,250, and further declines might push prices to $3,200 or even lower. Technical indicators, including the hourly MACD and RSI, are also hinting at a bearish trend, with increased selling pressure.</p>
<p style="text-align: justify">Investors are advised to keep a vigilant eye on market developments and to navigate the volatility with measured risk strategies. The key support and resistance levels to watch are at $3,200 and $3,520 respectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-plunges-as-market-tension-tests-key-support-thresholds" rel="noopener noreferrer nofollow">Ethereum Plunges as Market Tension Tests Key Support Thresholds</a></h5>

Ethereum Plunges as Market Tension Tests Key Support Thresholds

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